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6.2.A. - Page 29
<br />Bond M 929587351
<br />ATTACHMENT L°c" Premium: 2,713,00
<br />FAITHFUL. PERFORMANCE BOND
<br />KNOW ALL MEN BY THESE PRESENTS: that, WHEREAS, the City of Redwood City("City"),
<br />San Mateo County, State of California, has issued an Encroachment to
<br />Granite Rock Company , hereinafter designated as the
<br />"Principal", for constructing the following project: Site Improvements (on & off) for 24 Hour
<br />Fitness (N) including wet utilities, joint trench, stormwater treatment, surface improvements , and
<br />WHEREAS, said Principal is required under the terms of the permit to furnish a bond for the
<br />faithful performance of said Permit;
<br />NOW, THEREFORE, we, the Principal, and Western Surety Company , as
<br />surety, are held and firmly bound unto City, San Mateo County, California, in the penal sum of
<br />One Hundred Thirty Five Thousand Six Hundred Sixty Four & 001100------- Dollars ($ 135,664.00 )
<br />lawful money of the United States, being one hundred percent (100%) of the Permit amount, for
<br />the payment of which sum well and truly to be made, we bind ourselves, our heirs, executors,
<br />administrators and successors, jointly and severally, firmly by these presents.
<br />THE CONDITION OF THIS OBLIGATION IS SUCH, that if the above bounden Principal, his or
<br />its heirs, executors, administrators, successors or assigns, shall in all things stand to and abide
<br />by, and well and truly keep and faithfully perform the covenants, conditions, and agreements in
<br />the said Permit and any alterations made as therein provided, on his or their part, to be kept and
<br />performed at the time and in the manner therein specified, and in all respects according to their
<br />true intent and meaning, and shall indemnify and save harmless City, its Council,
<br />Commissioners, boards, committees, officers, employees and agents, as therein stipulated,
<br />then this obligation shall be null and void; otherwise it shall be and remain in full force and
<br />virtue.
<br />And the said Surety, for value received, hereby stipulates and agrees to waive the provisions of
<br />California Civil Code Section 2819 regarding consent to change, extension of time, alteration, or
<br />addition to the terms of the Permit or to the work to be performed thereunder or the
<br />Specifications accompanying the same shall in any wise affect its obligations on this bond; and
<br />it does hereby waive notice of any such change, extension of time, alteration or addition to the
<br />terms of the Permit, or to the work, or to the Specifications.
<br />In the event City, or its successors or assigns, shall be the prevailing party in an action brought
<br />upon this bond, then, in addition to the penal sum hereinabove specified, we agree to pay to the
<br />said City, or its successors or assigns, a reasonable sum on account of attorney's fees in such
<br />action, which sum shall be fixed by the court.
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